WeChat in Australia: STP Analysis and Marketing Expansion Plan

This report outlines a comprehensive marketing plan for WeChat's expansion into the Australian market. It details market entry and expansion strategies, including joint ventures, acquisitions, and licensing. The report emphasizes the importance of Segmentation, Targeting, and Positioning (STP), providing a detailed analysis of demographic, psychographic, and geographic segmentation. It identifies key characteristics of target markets, such as measurability, market responsiveness, accessibility, and profitability. The plan includes examples of targeted customers based on specific needs, behavior, and willingness to pay, drawing a comparison to BT Plc's use of STP. Ultimately, the report concludes that implementing this marketing plan will attract investors and enhance communication, leveraging STP to capture the attention of the current generation in Australia. Desklib provides access to this and other solved assignments for students.

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STUDENT NAME
COURSE
INSTITUTION
DATE

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EXECUTIVE SUMMARY
The purpose of this report is to discuss and recommend how the WeChat should be expanded
into the Australia. Using the market plan, the recommended remedies will be applied to the
target market(s) for the expansion of the products or services in the country and provide
information on how company will magnify in the next 5 years considering the market. The
benefits wanted from the WeChat is behavioral arrangements for the products or services
category. The targeted markets are; families, seniors, youth, gender-based, a selection of urban
and rural markets.

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Table of Contents
1.0 Introduction................................................................................................................................4
1.1 Purpose of a Marketing Plan..................................................................................................4
1.2 Benefit of Marketing Plan......................................................................................................4
2.0 Market Entry and Expansion Strategies....................................................................................4
3.0 Segmentation, Targeting and Positioning (STP).......................................................................6
3.1 Ways to segment your viewers using the following profiles.................................................6
5.0 Positioning the product..............................................................................................................9
6.0 Conclusion.................................................................................................................................9
Reference.......................................................................................................................................10

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1.0 Introduction
“Marketing plan” is a written document that’s defines the targeted markets, its shows the
objectives of the market by specified products, combined profits and earning according to the
planned business units and contains organized budget elements. Marketing plan however can be
determined into long term and short term. Long term concerns a period of two- five years while
short term is a period of one year (McDonald, & Wilson, 2016).
1.1 Purpose of a Marketing Plan
Marketers makes their personal marketing plans then set it on the side. Marketing plan is the key
and destination toward reaching the business goal line. It’s supposed to be brought up and
assessed normally, some business possessors consider their marketing plan as their business plan.
1.2 Benefit of Marketing Plan
A Market Plan:
1. Gives guiding in decision making
2. Helps to face competition in the market
3. To project productivity of the business
2.0 Market Entry and Expansion Strategy
When a plan is made proposing for a new invention in the market, the entry and setting strategy
turns into serious. A time when company makes a choice to get into an overseas market there is a
variety that differ with risk, cost and the degree to control over them (Hennart, 2009) pp.1432-
1454.
The market entry and expansion strategies;

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Joint ventures- this is the enterprise that particularly makes partnership that involves
independently party amendments. Duo companies establishes an agreement to work together in a
certain market and formulate a third company. The Profits and vulnerabilities are
correspondingly shared.
Advantages
1) Contribute to technical marketing mergers.
2) Allocates risks and common business asset.
3) Sources of resource for a third state.
Disadvantages
1) May lead to possible disagreement between the firms.
2) Partners may disagree on estimated benefit.
3) Hard to recover the assets.
Acquisitions- Is the areas of interest where all companies are currently abiding by the added
proceedings and development of their region of operations.
Advantages
1) Entry obstructions are flabbergasted.
2) The schedule period of time is saved.
Disadvantages
1) Its expensive & Risky

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Licensing- is a method where by a foreign country agrees to authorize a company, to use the
license and some other skills provided by the licensor.
Advantage
1) Mean expense
2) It’s a entry to slight risk manufacturing relations
3) Can provide a way for the new technical market.
Disadvantage
1) Competitors rely on the license
2) Can’t be a major firm growth
3) There may be loss of potential revenues and manufactures (Cronin-Gilmore, 2012),
pp.96-107.
3.0 Segmentation, Targeting and Positioning (STP)
STP is ideal currently beneficial when making market communications planning, it helps one to
develop, send appropriate messages and priorities the proposals to involve with different people
in the market (Natter, Mild, Wagner, & Taudes, 2008), pp.600-609.
3.1 Ways to segment your viewers using the following profiles
1. Demographics segmentation – it’s a based on measurable information, such as; age,
gender, education, religion, income level and profession/Occupation. This is most
criteria used to target the markets.

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2. Psychographics segmentation - this refers to sensation and characters linked to
acquisition choices. Interviews, survey and customer data are ways to collect data to
help develop psychographic side opinions.
3. Beliefs and values – are religious belief, traditional/ belief, political and morals
values.
4. Geographic segmentation – this rely on customers who are located on a geographic
base depending on where the business is located.
4.0 Market Targeting
Market targeting is a key to attraction of a new business ideas, its breakdowns a market into
segment thus making the business more successful. It makes product distribution and pricing
more easily and effective.
Things needed in marketing target;
1. Money – the proceeding must go beyond the other charges and expense of marketing
plans.
2. Size – geographically marketing area must be sufficient for segmentation of the
business.
3. Benefits – different welfares are required for segmentation.
4. Accessible – segments should be accessible to the players and can be able to deliver a
marketing feedback (Bergemann, & Bonatti, 2011), pp.417-443.
Characteristics of segmentation and target markets

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1. Measurable - it’s the characteristic of a market segment that include/ exclude targeted
markets.
2. Market responsiveness – the consumers are handed a segment of market and are
responsive of their product.
3. Accessible – products and services should be geographically and economically accessible
by the market segment.
4. Profitable – purchase of product and services must be sufficient to the targeted markets
(Bergemann, & Bonatti, 2011) pp.417-443.
Examples of targeted customers
a) Specific customers – a sales business team may look up to a number of business
opportunity in a field for a customers to purchase a software product.
b) Local marketing – identifies a user in a certain community.
c) Customers need – users with specific set of needs, tend to stay outside in summer time.
d) Behavior – users target the status seeking individuals.
e) Willing to pay – refer to customer who tend to buy most luxurious staff.
f) Customer preferences – customers who doesn’t want a certain product may be a material
for a personal care.
5.0 Positioning the product
This is the last part that shows how to locate the product to the market, a research is taken to
identify the space to allocate the product and if the product is not in a certain segment in the
map then it indicates there is a market opportunity for the product.
Example of a company using STP

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A time when you have a doubt and measurable difficult in your market, then consider the
STP. The WeChat can be compared to a “BT Plc” the greatest and biggest UK’s
Telecommunication Company, which has taken on the use of STP, for its fortified customers.
6.0 Conclusion
From the results above, the use of WeChat will be much effective to the contender’s, marketers,
customers and entrepreneurs in that; it gives a clear outline of how the product and services are
to be outlaid, hence it will attract investors to invest into the company. It will also help the users
to have sufficient and effective communication to the community and the entire country, the
implementation of using STP will help to capture the attention of the current generation.

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Reference
Beamish, P.W. and Lupton, N.C., 2009. Managing joint ventures. The Academy of Management
Perspectives, pp.75-94.
Bergemann, D. and Bonatti, A., 2011. Targeting in advertising markets: implications for offline
versus online media. The RAND Journal of Economics, 42(3), pp.417-443.
Cronin-Gilmore, J., 2012. Exploring marketing strategies in small businesses. Journal of
Marketing Development and Competitiveness, 6(1), pp.96-107.
Do Paco, A. and Raposo, M., 2009. “Green” segmentation: an application to the Portuguese
consumer market. Marketing Intelligence & Planning, 27(3), pp.364-379.
Hennart, J.F., 2009. Down with MNE-centric theories! Market entry and expansion as the
bundling of MNE and local assets. Journal of International Business
Studies, 40(9), pp.1432-1454.
Holliman, G. and Rowley, J., 2014. Business to business digital content marketing: marketers’
perceptions of best practice. Journal of research in interactive marketing, 8(4),
pp.269-293.
Natter, M., Mild, A., Wagner, U. and Taudes, A., 2008. Practice Prize Report—Planning New
Tariffs at tele. ring: The Application and Impact of an Integrated Segmentation,
Targeting, and Positioning Tool. Marketing Science, 27(4), pp.600-609.